More than 150 pieces of luxury items which were seized during drug raids by the Federal Narcotics Crime Investigation Department’s (NCID) were auctioned off today fetching a total of RM260,661.

The 159 items included 122 pieces of jewellery, 24 luxury watches and two Dupont lighters. The jewellery included gold necklaces, bracelets and rings set with precious stones.

The auction was held at the Kuala Lumpur police headquarters by NCID’s property forfeiture division.

An NCID officer told The Malaysian Insight that the collective reserve price for the pieces put up for bid today was RM390,000.

Valuation for the all the items was done by experts, the officer said, adding that the police only conducts auctions like these when there are enough items to sell.

A Rolex watch was also put up for sale, but did not meet any bidders as it did not have an accompanying certificate.

The auction was the second one to be held this year.

The event was announced via a statement on PDRM’s Facebook page, along with full list of the assets and the rules and regulations for the auction

An earlier auction held in May, saw seized luxury cars being sold off. That fetched auction RM500,000. A Mercedes-Benz was sold for RM286,000.

All proceeds from the sale of the items will go to the Ministry of Home Affairs. – October 18, 2018.